Housebuilding Continues to Return to Pre-bust Levels Across the UK

Housebuilding in the UK is returning to pre-bust levels, with chartered surveyors reporting growth in every part of the country; the first time since the beginning of the market crash six years ago, according to the Q3 2013 RICS construction market survey.

During the third quarter of the year, surveyors reported a 41% rise in privately-funded housing projects compared with the same period last year, in addition to a growth in private commercial and industrial developments, which has seen workloads in the construction sector rise to their strongest rate since the summer of 2014.

The survey also detailed that chartered surveyors are expecting construction activity to surge even further during the next twelve months, with a net balance of 71% of respondents predicting that the volume of work is set to continue to pick up speed, with output likely to rise by nearly 4% over the 12-month period.

Chartered surveyors also anticipate that employment will rise within the sector, with a net balance of 41% of respondents expecting more jobs to be created within the next 12 months.